Stablecoin market cap reaches record high of $317.255B amid market downturn

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Summary

On April 4, 2026, the stablecoin market cap reached $317.255 billion, according to DefiLlama. Despite the broader cryptocurrency market downturn, stablecoins grew 0.43% week-over-week. USDT’s market share dropped below 60% to 58.03%. Sky’s USDS surged 9.57% in one week to $8.924 billion, becoming the third-largest stablecoin. Altcoins to watch include USDS as competition in the stablecoin space intensifies.

BlockBeats news, on April 4, despite a cooling cryptocurrency market, stablecoins continue to grow rapidly. According to DefiLlama data, the total market capitalization of stablecoins increased by 0.43% over the past week, reaching a record high of $317.255 billion in circulating supply.

Meanwhile, USDT's market share has continued to decline, falling below 60% to currently stand at 58.03%. Sky’s stablecoin, USDS, has shown significant growth, with its circulating market cap increasing by 9.57% over the past week to reach $8.924 billion, making it the third-largest stablecoin by market cap.

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